Visa Inc. $V Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Visa Inc. (NYSE:V) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,361,979 shares of the credit-card processor’s stock after selling 83,265 shares during the quarter. Visa comprises about 1.0% of Rhumbline Advisers’ portfolio, making the stock its 12th largest holding. Rhumbline Advisers owned about 0.18% of Visa worth $1,193,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. CenterBook Partners LP raised its stake in shares of Visa by 6.9% in the second quarter. CenterBook Partners LP now owns 99,717 shares of the credit-card processor’s stock worth $35,405,000 after purchasing an additional 6,419 shares during the last quarter. AlphaCore Capital LLC raised its position in Visa by 6.7% during the 2nd quarter. AlphaCore Capital LLC now owns 29,095 shares of the credit-card processor’s stock worth $10,330,000 after buying an additional 1,823 shares during the last quarter. Mufg Securities Americas Inc. raised its position in Visa by 24.3% during the 2nd quarter. Mufg Securities Americas Inc. now owns 37,920 shares of the credit-card processor’s stock worth $13,463,000 after buying an additional 7,415 shares during the last quarter. Evelyn Partners Investment Management Services Ltd lifted its stake in Visa by 25.2% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 124,417 shares of the credit-card processor’s stock valued at $42,522,000 after acquiring an additional 25,058 shares during the period. Finally, Evelyn Partners Asset Management Ltd boosted its holdings in shares of Visa by 103.0% in the 2nd quarter. Evelyn Partners Asset Management Ltd now owns 70,460 shares of the credit-card processor’s stock valued at $25,017,000 after acquiring an additional 35,748 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,042 shares of company stock worth $8,175,152 in the last quarter. 0.13% of the stock is owned by company insiders.

Visa Price Performance

V stock opened at $328.24 on Friday. The business’s fifty day moving average price is $340.46 and its 200 day moving average price is $347.92. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $597.97 billion, a PE ratio of 32.15, a P/E/G ratio of 1.92 and a beta of 0.87.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is 26.25%.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. Robert W. Baird set a $425.00 price target on shares of Visa in a report on Wednesday, October 29th. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. KeyCorp reissued an “overweight” rating and set a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Morgan Stanley set a $398.00 price target on shares of Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.